Business Headline News Nigeria

Equities market halts 7-day rally with N58bn loss

The market capitalisation of the nation’s equities on Tuesday shed N58bn to close at N28.475tn halting a seven-day rally.

A total of 550,293,697 million units of shares valued at N5.150bn were traded on the exchange market in 6, 250 deals.

The All-Share Index dropped by 107.03 base points (bps) to close at 52,296.48 on the back of selloffs in Wapco, Geregu and ETI (-0.90 per cent) shares respectively.

Turnover was lower compared to the previous session, with the value of transactions down by 60.59 per cent.

Access Corp led the volume and value charts with 150m units traded in ₦1.6bn deals .

Investors’ sentiment as measured by market breadth appreciated as 30 stock gained against 23 losers at the end of trading.

Writing by Julian Osamoto; Editing by Adeniyi Bakare